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2010 SESSION

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HB 614 Income tax laws; conformity to Internal Revenue Code.

Introduced by: Harry R. Purkey | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Conformity with Internal Revenue Code.  Advances the date as of which Virginia's system of taxation conforms with the Internal Revenue Code (IRC) from December 31, 2008, to December 31, 2009, and adds two new exceptions; the deferral of certain income under § 108 (i) of the IRC, and the original issue discount on applicable high yield discount obligations under IRC § 163 (e)(5)(F). Taxpayers are preparing and filing returns during the Session, therefore, the bill contains an emergency clause.

FULL TEXT

• 01/12/10  House: Prefiled and ordered printed with emergency clause; offered 01/13/10 10102662D  pdf | impact statement
• 02/10/10  House: Committee substitute printed 10105333D-H1  pdf | impact statement

HISTORY

• 01/12/10  House: Prefiled and ordered printed with emergency clause; offered 01/13/10 10102662D
• 01/12/10  House: Referred to Committee on Finance
• 02/10/10  House: Committee substitute printed 10105333D-H1
• 02/10/10  House: Reported from Finance with substitute (19-Y 1-N)
• 02/10/10  House: Referred to Committee on Appropriations
• 02/16/10  House: Left in Appropriations